12/12 Bullish. 300 Buying | 210 Selling.
% Stocks Over 50SMA is Bullish. Primary Indicator is Bullish. 20% Weekly is Neutral.
The market showed rotation into cyclicals and defensives, lifting the Dow to a record high despite tech weakness weighing on the Nasdaq and S&P 500. Rate-cut optimism and softer Fed tone continue to fuel small- and mid-cap strength.
Precious metals miners faded late, signaling near-term consolidation, while semiconductors and nuclear/uranium sectors showed strong momentum. Software stocks remain soft, with Oracle and Adobe under pressure. Volatility (VXX) declined, supporting a risk-on environment.
Broadcom’s upcoming earnings and Fed-related economic data remain key catalysts to watch.
Key Takeaway:
Focus on cyclical and defensive sectors showing momentum, especially semiconductors and energy transition plays. Avoid heavy exposure to large-cap software and precious metals miners until they stabilize. Use support levels on strong momentum names for entries and respect stops amid mixed sector rotation and moderate volatility.
Watchlist
Continuation: AMD (S1: 220, S2: 219.5, S3: 219, R1: 221.5, R2: 222.5, R3: 224)
Anticipation: CVNA (S1: 471, S2: 470.5, S3: 466.5, R1: 473.5, R2: 475, R3: 480)